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WEDCO CHAIRMAN EXPECTS SUBSTANTIAL INCREASE IN FIRST QUARTER EARNINGS OVER SAME PERIOD OF PRIOR YEAR

WEDCO CHAIRMAN EXPECTS SUBSTANTIAL INCREASE IN FIRST QUARTER EARNINGS
 OVER SAME PERIOD OF PRIOR YEAR
 BLOOMSBURY, N.J., June 23 /PRNewswire/ -- Wedco Technology, Inc. (NASDAQ-NMS: WEDC), a provider of a range of custom processing services and manufacturer of related machinery for the plastics industry, today announced it expects to report strong earnings for its first quarter ending June 30, 1992.
 William E. Willoughby, president and chairman, said, "We are off to a great start this year. Sales and operating income are up and our joint ventures are also reporting increases in earnings. In addition, interest costs are down. Based on our internal reports through May, we now expect that net income for our first quarter will substantially exceed last year's first quarter." In commenting on the previously set goal of 35 percent growth in net income for the year ending March 31, 1993, compared to 1992, Willoughby added, "Based on the strength of the first quarter, it now appears that our goals were conservatively set."
 For the quarter ended June 30, 1991, the company reported net income of $317,000 or $.10 per common share on sales of $7,052,000. For the year ended March 31, 1992, the company reported net income of $2,014,000 or $.66 per common share on sales of $30,293,000.
 /delval/
 -0- 6/23/92
 /CONTACT: Nicholas Ruitenberg, CFO of Wedco Technology, 908-479-4181/
 (WEDC) CO: Wedco Technology, Inc. ST: New Jersey IN: MAC SU: ERP


MK-MP -- PH005 -- 2723 06/23/92 09:35 EDT
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Publication:PR Newswire
Date:Jun 23, 1992
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